Connect with us

Hi, what are you looking for?


Bayanihan III bill worth P485B filed in Senate

A THIRD stimulus package worth P485 billion to help the economy recover from the pandemic and the late-year typhoons has been filed in the Senate.

The Bayanihan III stimulus package formally known as Senate Bill (SB) No. 1953 or the proposed Bayanihan to Rebuild as One Act, does not contain a grant of special powers to President Rodrigo R. Duterte, unlike the first and second rounds of stimulus.

The Bayanihan to Heal as One Act, or Republic Act No. 11469, and the Bayanihan to Recover as One Act, RA 11494, respectively authorized packages of P375 billion, and P140 billion with P25.5 billion in standby funding.

“Notwithstanding these measures which cushion the socio-economic impact of the pandemic, our agony is not yet over as three typhoons which hit the Philippines in October and November 2020 had exacerbated the disastrous impact of COVID-19 (coronavirus disease 2019),” Senator Ralph G. Recto said in the bill’s explanatory note.

He said SB 1953 is the counterpart measure of House Bill No. 8031, written by Marikina Representative Stella Luz A. Quimbo.

The bill allocates P55 billion for COVID-19 vaccines and other medications and another P20 billion for vaccine storage. At present, a total of P82 billion in programmed and unprogrammed funds has been allotted for the vaccine rollout.

It will also provide an additional P35 billion to hire contact tracers, fund testing and treatment, and provide hazard pay.

Some P100 billion will be earmarked each for worker subsidies and capacity-building in hard-hit sectors; P70 billion in cash assistance to households under the social amelioration program, and P20 billion for households affected by the typhoons.

Some P30 billion will be provided for displaced workers, P50 billion for the rehabilitation of typhoon-hit areas, and a P5-billion internet allowance for teachers and students via the Department of Education and Commission on Higher Education.

The government placed Luzon on lockdown in mid-March to contain the spread of the virus. Quarantine rules remain in force at varying levels of severity across the country.

The economy contracted 10% in the first nine months, which could worsen due to the impact of five typhoons in October and November. The National Economic and Development Authority has estimated that the storms caused P90 billion worth of output to be lost. — Charmaine A. Tadalan

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Unemployment rate steadied in June, while job quality improved to its best in over a year, the Philippine Statistics Authority reported on Monday. Preliminary...


Follow us on Spotify BusinessWorld B-Side By Patricia B. Mirasol, Reporter speaking to Bernardo M. Villegas WITH EVERY CHANGE of administration comes the question of...


In line with the national government’s thrust to transform the Philippines through PPPs and collaboration between LGUs and the private sector, Iloilo City Mayor...


Click to enlarge. Click to enlarge.   Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience...


As the Aboitiz Group embarks on a Great Transformation towards becoming the first “techglomerate” in the country by 2025, the company’s power arm is...


Security Bank Corporation (PSE: SECB), one of the Philippines’ leading universal banks, has been serving retail, corporate, institutional, and MSME clients since it opened...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


Instagram still holds the top spot for social media in terms of building brand reputation and expanding business potential. Every day, more and more...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.